Short Interest in Ondas Holdings Inc. (NASDAQ:ONDS) Decreases By 20.3%

Ondas Holdings Inc. (NASDAQ:ONDS) saw a large decrease in short interest during the month of February. As of February 28th, there was short interest totalling 2,990,000 shares, a decrease of 20.3% from the February 13th total of 3,750,000 shares. Approximately 4.5% of the shares of the stock are sold short. Based on an average trading volume of 7,570,000 shares, the short-interest ratio is presently 0.4 days.

Analyst Upgrades and Downgrades

Separately, Northland Securities upped their price target on shares of Ondas from $1.50 to $4.00 and gave the company an “outperform” rating in a research report on Monday, December 30th.

Insider Activity

In other Ondas news, Director Randy Seidl sold 21,359 shares of the firm’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $1.29, for a total value of $27,553.11. Following the completion of the transaction, the director now directly owns 124,513 shares in the company, valued at $160,621.77. This trade represents a 14.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 13.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. B. Riley Wealth Advisors Inc. acquired a new stake in Ondas during the fourth quarter valued at $46,000. Squarepoint Ops LLC purchased a new stake in shares of Ondas during the 4th quarter worth about $48,000. Two Sigma Investments LP acquired a new stake in shares of Ondas during the 4th quarter valued at about $31,000. Millennium Management LLC lifted its holdings in shares of Ondas by 150.0% during the 4th quarter. Millennium Management LLC now owns 28,366 shares of the company’s stock valued at $73,000 after buying an additional 17,021 shares during the last quarter. Finally, Cresset Asset Management LLC bought a new stake in shares of Ondas in the 4th quarter valued at approximately $3,288,000. 37.73% of the stock is owned by hedge funds and other institutional investors.

Ondas Stock Performance

Shares of Ondas stock opened at $0.74 on Monday. Ondas has a 12 month low of $0.54 and a 12 month high of $3.40. The company has a quick ratio of 0.21, a current ratio of 0.43 and a debt-to-equity ratio of 0.02. The stock has a market cap of $67.40 million, a PE ratio of -1.03 and a beta of 2.00. The business has a fifty day simple moving average of $1.63 and a 200-day simple moving average of $1.25.

Ondas (NASDAQ:ONDS) last announced its quarterly earnings data on Wednesday, March 12th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.05). The business had revenue of $4.13 million for the quarter, compared to analyst estimates of $5.75 million. Ondas had a negative return on equity of 183.49% and a negative net margin of 544.24%. On average, sell-side analysts anticipate that Ondas will post -0.53 EPS for the current fiscal year.

About Ondas

Ondas Holdings Inc, through its subsidiaries, provides private wireless, drone, and automated data solutions. It operates in two segments, Ondas Networks and Ondas Autonomous Systems. The company designs, develops, manufactures, sells, and supports FullMAX, a software defined radio (SDR) platform for wide-area broadband networks.